Budget Wishlist By Indian Metals & Ferro Alloys

Subhrakant Panda
Managing Director & CEO
Indian Metals & Ferro Alloys

A 'good budget' in my books will be one which carries on with the reform process and focuses on growth, while addressing key issues like fiscal deficit, inflation, infrastructure augmentation, etc. Transparency and greater accountability should be the pillars of any policy-making process.

As far as the metal and mining sector is concerned, mining and power generation sectors have suffered, thanks to lack of clarity in policy making. The need of the hour, therefore, is a clear and unambiguous policy for the mining sector. This policy needs to be both people and business friendly while addressing the issue of fuel supply for the power sector on an urgent basis.

Also, despite the new Electricity Act being enacted almost a decade ago, 'open access' still remains a chimera in many parts of the country.  The ferro alloys industry will thus benefit from any action taken to stimulate growth. Further, clarity in the mining & power sectors, which together constitute about 70% of the cost of production, will be appreciated